Housing Wire

SEPTEMBER 6, 2023

In the face of spiking interest rates and historically high home prices , $3,000 monthly mortgage payments are common in today’s housing market. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter. Tappable equity levels remain elevated, Walden noted.

Equity 410

Equity Mortgages Principal Loans 410

Housing Wire

DECEMBER 7, 2021

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

Equity 450

Equity Principal Mortgages Closing 450

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 406

Mortgages VA loan Principal Loans 406

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI).

Mortgages 415

Mortgages Loans Equity Principal 415

Housing Wire

OCTOBER 2, 2023

Even on a non-adjusted basis, August’s gain of 0.24% was more than 60% larger than the 25-year average for the month, according to a mortgage monitor report from Intercontinental Exchange, Inc. The high-interest rate environment continues to put downward pressure on mortgage origination activity.

Mortgages 420

Mortgages Equity Lending Principal 420

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., As far as the interest in reverse mortgages, it has been steady,” he said.

Mortgages 425

Mortgages Principal Loans Loan Officer 425

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 417

Mortgages Seller concession Principal Loans 417

Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s s reverse division to transition back into a role as a reverse mortgage broker. People are interested in getting reverse mortgages and talking about them,” he said. I really do like that,” Cabe said. “[On

Development 430

Development Industrial Mortgages Loans 430

Housing Wire

MARCH 19, 2024

New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award.

Equity 379

Equity Loan Officer Principal Loans 379

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 401

Mortgages Banks Equity Land 401

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 411

Sales Mortgages Principal Equity 411

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 373

Sales Mortgages Loans Loan Officer 373

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 249

Equity Principal Mortgages Loans 249

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.” This represents $15.6

Mortgages 445

Mortgages Bankruptcy Principal Finance 445

Housing Wire

JUNE 14, 2022

Mortgage delinquency rates in March fell below the 3% mark , reaching another historic low as a strong labor market and income growth drove down the number of property owners who are late on their mortgage payments. . of all mortgages in the U.S. of all mortgages in the U.S. About 2.7% percentage points from the 4.9%

Mortgages 368

Mortgages Staging Principal Equity 368

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 418

Investor Bankruptcy Finance Equity 418

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. In January, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 397

Sales Mortgages Loan Officer Principal 397

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well. trillion portfolio of MBS.

Mortgages 440

Mortgages Banks Loans Industrial 440

Housing Wire

APRIL 24, 2024

PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release. That was less than the $38.1

Lending 328

Lending Loans Principal Equity 328

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. million security backed by non-QM mortgages.

Mortgages 368

Mortgages Principal Banks Equity 368

Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Since 2004, they claim to have created $4 billion in equity value to investors. The post Interfirst Mortgage raises $175 million appeared first on HousingWire.

Mortgages 352

Mortgages Investor Loan Officer Principal 352

Housing Wire

AUGUST 7, 2023

Rising home prices also boosted homeowner equity levels. The average mortgage holder now has $199,000 in equity, up from $185,000 in the first quarter, but down from $207,000 at the same time last year. Strong equity positions are one element of today’s historically strong mortgage performance, the report said.

Equity 370

Equity Marketing Principal Mortgages 370

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. A mortgage rate lockdown freezes the housing market. They are not selling and have a lot of equity in their homes.

Equity 526

Equity Marketing Loans Bankruptcy 526

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 344

Investor Sales Mortgages Loan Officer 344

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 249

Equity Principal Mortgages As-is 249

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 413

Sales Banks Principal Loans 413

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. The California-based company announced on Wednesday it intends to offer a $650 million aggregate principal amount of senior notes due in 2029. At the end of September, Pennymac had a debt-to-equity ratio of 2.6

Principal 403

Principal Equity Mortgages Investor 403

Housing Wire

OCTOBER 26, 2021

Seven months after a $16 million Series B round, digital mortgage platform Maxwell has raised $52.5 million in equity and $24 million in debt – valued the company at $450 million. The company, founded in 2015, uses artificial intelligence to streamline and accelerate the mortgage process for community lenders and their borrowers.

Mortgages 382

Mortgages Principal Loans Investor 382

Housing Wire

DECEMBER 7, 2023

According to the company , the offering size was increased from the previously announced $650 million aggregate principal amount of notes. Other mortgage companies also faced high demand for debt issued this year. In September, Freedom Mortgage raised $1.3 The company’s debt-to-equity ratio was 2.6 A total of $1.8

Principal 355

Principal Equity Investor Mortgages 355

Housing Wire

JANUARY 5, 2022

Reverse Mortgage Funding, LLC (RMF) has acquired a portfolio of mortgage servicing rights (MSRs) and other assets from industry-leading lender American Advisors Group (AAG), which consists of more than 75,000 loans totaling $12.1 billion in unpaid principal balance (UPB).

Mortgages 394

Mortgages Principal Loans Industrial 394

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 billion in 2021 to $4.6

Equity 432

Equity Lending Fixed-rate mortgage Loans 432

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgages 368

Mortgages VA loan Loans Technology 368

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. Then, in what felt like an instant, in Q1 2022 mortgage rates skyrocketed and the refi boom ended. According to CNBC, homeowner equity is an aggregate $9.9

Equity 397

Equity Fixed-rate mortgage Principal Mortgages 397

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. Then, in what felt like an instant, in Q1 2022 mortgage rates skyrocketed and the refi boom ended. According to CNBC, homeowner equity is an aggregate $9.9

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

MAY 10, 2023

At that point, Home Point said it would manage its balance sheet and mortgage servicing rights ( MSR ) portfolio. In total, Mr. Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return on equity with an estimated 10% increase to operating earnings in the first year.

Equity 397

Equity Principal Mortgages Loans 397

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397